Rexford Industrial Realty (REXR) Receiving Somewhat Positive Media Coverage, Analysis Finds
Media stories about Rexford Industrial Realty (NASDAQ:REXR) have been trending somewhat positive recently, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Rexford Industrial Realty earned a news impact score of 0.06 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 45.2204938650006 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
A number of research analysts have weighed in on REXR shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price target on shares of Rexford Industrial Realty in a research note on Friday, July 14th. DA Davidson reaffirmed a “buy” rating and issued a $33.00 price target (up previously from $30.00) on shares of Rexford Industrial Realty in a research note on Thursday, July 13th. National Securities raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and lifted their price target for the company from $23.00 to $32.00 in a research note on Tuesday, August 29th. Finally, Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $30.63.
Shares of Rexford Industrial Realty (REXR) traded up 0.82% during mid-day trading on Thursday, hitting $29.55. 30,643 shares of the stock were exchanged. The stock’s 50 day moving average price is $29.44 and its 200-day moving average price is $27.00. The stock has a market capitalization of $2.09 billion and a P/E ratio of 63.28. Rexford Industrial Realty has a 12-month low of $20.05 and a 12-month high of $30.60.
Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Rexford Industrial Realty had a return on equity of 7.84% and a net margin of 53.98%. The company had revenue of $36.78 million for the quarter, compared to analysts’ expectations of $36.75 million. During the same period last year, the business earned $0.22 EPS. Rexford Industrial Realty’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts expect that Rexford Industrial Realty will post $0.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 28th.
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About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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